Business
Coloured Ties Announces Investment into CULT Food Science Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2023) - Coloured Ties Capital Inc. (TSXV: T...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties Announces Investment into CULT Food Science Corp.Vancouver, British Columbia--(Newsfile Corp. - May 8, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (\"Coloured Ties\" or the \"Company\") is pleased to announce that the Company has acquired 4,023,000 common shares of CULT Food Sciences Corp. (CSE: CULT) (\"CULT\") for investment purposes. Coloured Ties has also entered into a Capital Markets Consulting Agreement with CULT, whereby Coloured Ties will provide services of Capital Market Advisor throughout the term of this Agreement (defined herein) in order to fulfil its obligations hereunder. In consideration of the Services, CULT will issue the Coloured Ties 2,500,000 options at a deemed price of $0.10 per option share for a period ending 36 months from the date of issuance (the \"Base Fee\"). All options issued by the Company to the Consultant will vest in four equal tranches over twelve months with the first tranche vesting three months after the Effective Date and the remaining tranches vesting three, six and nine months thereafter. Further compensation will be reviewed from time to time and will be contemplated in an amendment to this version. About CULT Food Science Corp.CULT is the first publicly-traded company of its kind in North America, pioneering the investment, development, and commercialization of cellular agriculture technologies and products. Through its global portfolio of companies and its venture studio, CULT provides investors with unprecedented exposure to the most innovative start-up, private or early-stage cultivated meat, cell-based dairy, and other cultured food companies around the world.Additional information can be found by viewing CULT's website at cultfoodscience.com or its regulatory filings on sedar.com.RECENT CULT ANNOUNCEMENTS:Almost every industry is going through major changes, and Pet brands are no exception. The pet food industry continues to grow, with worldwide sales in 2022 at $123 billion (in U.S. dollars) and the projections for 2023 are $147 billion, according to Statista. CULT is cultivating a deep product line of pet foods to address this emerging market.Launch of Noochies! Brand:https://www.cultfoodscience.com/press-releases/cult-food-science-announces-launch-of-noochies-pre-order-campaign-for-consumers-and-retail-distributorsTORONTO, April...